Psygnosis is Europe's leading electronic games software publisher and developer. Since the company was founded in Liverpool, in 1984, Psygnosis has stood at the forefront of the electronic games market, creating more than 100 award-winning titles for a variety of different gaming platforms.
The backbone of Psygnosis is its fierce dedication to leading-edge game development. As technology has developed, so the company has harnessed the potential of the market's leading game platforms. From its early classics on the 8-bit and 16-bit game machines, to its use of proprietary 3D graphics technology and pioneering development of the CD-ROM format for use on both consoles and PCs, Psygnosis has consistently created the benchmark games to which the industry aspires.
Worldwide Success in Games Development
The ability to master advancing technology was highlighted in 1993 when Psygnosis was acquired by the Sony Corporation. The company played a key role in the launch of the Sony PlayStation in 1995, an event which provided it with the ideal platform to demonstrate how far its game development technology had come. Psygnosis games such as Wipeout® and Destruction Derby broke new ground and dominated PlayStation's first year sales.
Subsequent releases have continued the success: the original Formula 1, launched towards the end of 1995, broke new records by accounting for 68% of total leisure CD sales in the UK in its first week, and achieved sales of 30,000 units in the first three days following release; the subsequent release of Formula 1 97 has made this series the world's most successful racing game ever developed; other blockbuster titles have included Destruction Derby 2, Wipeout® 2097, Discworld 2, G-Police and Colony Wars.
Setting the Stage for Global Growth
With a catalogue of over 100 games and a turnover of around £100 million in 1997, Psygnosis now employs over 800 people in development studios and publishing offices across the globe, including London, Paris, Frankfurt, San Francisco and at its headquarters in Liverpool. With continued recruitment and investment dedicated to the expansion of its publishing capabilities and software development, the company has aggressive plans to grow its release schedule over the next two to three years. It has over 25 titles in development for release during 1998 and has set a target of 40-50 next generation game releases per annum from 1999. While most of these titles will be developed in-house, Psygnosis will continue to publish games on behalf of talented external software studios.
Although owned by Sony, Psygnosis is fiercely committed to its independence and to building its position as a leading multi-format publisher. This position has been significantly enhanced by the recent announcement that from April 1998 Psygnosis will be developing games for the Nintendo 64 video game console system. The first game to be produced for the N64 will be Wipeout® 64, which will build on the heritage of the landmark Wipeout® series and be the first Wipeout® game to feature intense multi-player races on one screen.
A key strategy for growth has been the building of business and technology partnerships with multi-national corporations. Deals with the likes of Disney, adidas and Intel have enabled Psygnosis to increase its penetration of the worldwide games market.
Partnerships have also been forged on the technology side with companies such as Diamond Multi Media and ATI, which will help Psygnosis remain at the forefront of games development and deliver the next generation of PC titles to the market.
Over the coming year, Psygnosis will be gearing up its sales and marketing forces worldwide to expand its global reach in markets such as Spain, Benelux, Scandinavia, Italy, the Pacific Rim and the Middle East. The company's US development studio, based in San Francisco, will also be expanded during 1998 and is expected to produce several ground-breaking titles during the next two years.
Psygnosis is strongly committed to attracting people of the highest creative calibre to continue its success. With more than 30,000 retail outlets worldwide now carrying Psygnosis products, the company has the platform from which to make a major impact on the global multimedia market.
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